Zoetis Inc. (ZTS) Hits New 1-Year High After Dividend Announcement
Zoetis Inc. (NYSE:ZTS)’s share price hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $53.14 and last traded at $52.79, with a volume of 2,043,287 shares trading hands. The stock had previously closed at $51.85.
The newly announced dividend which will be paid on Thursday, December 1st. Investors of record on Thursday, November 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.72%. Zoetis’s dividend payout ratio is presently 29.69%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, June 15th. Citigroup Inc. upped their target price on shares of Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Barclays PLC upped their price objective on shares of Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Zoetis in a research report on Tuesday, August 23rd. Finally, Credit Suisse Group AG reaffirmed a “focus list” rating and issued a $60.00 price objective on shares of Zoetis in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Zoetis has a consensus rating of “Buy” and an average price target of $55.27.
The stock has a 50 day moving average of $51.25 and a 200-day moving average of $48.91. The stock has a market cap of $26.08 billion, a price-to-earnings ratio of 41.04 and a beta of 1.00.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The firm earned $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Zoetis Inc. will post $1.91 earnings per share for the current fiscal year.
In other news, insider Andrew Fenton sold 13,870 shares of Zoetis stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $51.25, for a total value of $710,837.50. Following the completion of the sale, the insider now directly owns 17,719 shares in the company, valued at $908,098.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael B. Mccallister purchased 2,000 shares of Zoetis stock in a transaction dated Tuesday, September 6th. The stock was bought at an average price of $51.34 per share, with a total value of $102,680.00. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Virginia Retirement System bought a new stake in shares of Zoetis during the first quarter worth approximately $340,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Zoetis by 198.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 44,720 shares of the company’s stock worth $1,982,000 after buying an additional 29,720 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Zoetis by 1.3% in the first quarter. Prudential Financial Inc. now owns 562,712 shares of the company’s stock worth $24,946,000 after buying an additional 7,120 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Zoetis by 18.4% in the first quarter. Franklin Resources Inc. now owns 76,090 shares of the company’s stock worth $3,374,000 after buying an additional 11,804 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Zoetis during the first quarter worth approximately $118,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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